From 2013 to 2023, Mexico’s oil crops yield has demonstrated fluctuating growth. The yield started with 39.45 thousand hectograms per hectare in 2013, experienced some declines, reaching as low as 33.66 in 2015, before resuming growth and achieving 50.37 thousand hectograms per hectare in 2023. The changes in year-on-year growth have varied, with notable increases of over 10% in 2016 and 2018, contrasted by declines such as the 11.4% drop in 2015. The most recent years (2022-2023) show modest growth with a 1.87% and 1.8% increase respectively, while the Compound Annual Growth Rate (CAGR) for the last five years stands at 2.01%.
Looking forward, projections suggest that this upward yield trend will continue with an anticipated rise, reaching 55.02 thousand hectograms per hectare by 2028. This forecast indicates a 5-year CAGR of 1.39%, which translates to an overall growth of 7.16% from 2023 to 2028.
Future trends to watch for include:
- Technological advancements in farming practices that could enhance productivity.
- Impact of climate change and environmental policies on crop yields.
- Shifts in global demand for oil crops affecting local production incentives.